Zomato shares a buy? Swiggy IPO DRHP highlights, stock price target
Swiggy IPO: Zomato shares are up 121 per cent in 2024 so far, ahead of the mega initial public offer (IPO) by peer Swiggy. Following its comparison with the IPO-bound Swiggy, based on the draft IPO papers, MOFSL believes Zomato Ltd has further room for upside.
The stock has potential to deliver over 20 per cent return going ahead, the brokerage said citing Zomato’s market leadership in food delivery and quick commerce — the two key battleground areas for the players.
“While Zomato is undeniably Primus inter pares, the war for the wallet share of the urban affluent consumer has just begun, and it is too early to call the game,” it said.
Comparing Swiggy and Zomato, MOFSL said Zomato has been gaining market share in food delivery….
